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A bus company believes that it will need the following numbers of bus drivers during each of the next five years: 60 drivers in year 1; 70 drivers in year 2; 50 drivers in year 3; 65 drivers in year 4; 75 drivers in year 5. At the beginning of each year, the bus company must decide how many drivers to hire or fire. It costs $4000 to hire a driver and $2000 to fire a driver. A driver’s salary is $10,000 per year. At the beginning of year 1, the company has 50 drivers. A driver hired at the beginning of a year can be used to meet the current year’s requirements and is paid full salary for the current year.
Determine how to minimize the bus company’s salary, hiring, and firing costs over the next five years.
Considering the type of operation in the organization, what performance measures would you recommend? On what criteria did you base your recommendations.
Irene Kemp has just completed her first day on a new job at Key Data Processing Co. (KDP). Although she had been out of the force while raising a family, she was hired recently as a payroll clerk, based primarily on three years' experience she..
You have been recruited as a consultant to provide support for the capital project. Write a paper for the Project Board evaluating the three options for running the Leisure Centre and provide a recommendation. The favoured option had originally been ..
Using the data of question 9, suppose the manufacturer has an inflated demand forecast as follows: Quantity Probability 2,200 5% 2,300 6% 2,400 10% 2,500 17% 2,600 30% 2,700 17% 2,800 12% 2,900 3%
Daily demand for a product is 95 units with a standard deviation of 13 units. The review period is 8 days, and lead time is 4 days. At the time of review there are 80 units in stock. If 90 percent service probability is desired, how many units should..
What is the difference between job enlargement and job enrichment? Which of these approaches is more useful in dealing with the boredom and monotony of job specialization? Discuss an experience you have had with goals. Explain how goal-setting affect..
Which you examine a form of a tangible gender communication (an artifact) i.e. TV episode, newspaper article, movie, song/music video, photograph, magazine, exhibit, advertisement, social media group or exchange, interview etc. You will give a clear ..
a number of quality-management philosophies hold that prevention costs are the most critical quality-related costs.
Working in a foreign country could have its difficulties. These difficulties could change if you are there for a short term assignment as compared to long term assignment.
How would our economy be assessed from the point of view of Rawls' difference principle? Can it be plausibly maintained that, despite poverty, our system works to “the greatest expected benefit of the least advantaged”? Is this an appropriate standar..
Assume that at a medical malpractice trial alleging postoperative infection, exactly 50% of the evidence favors the plaintiff and 50% of the evidence favors the defendant physician and hospital. Among the defendant’s evidence is some indication that ..
In a continuous inventory system an order is placed for a variable amount whenever the inventory on hand falls to a predetermined level
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